Snowflake Inc. (NYSE:SNOW) Shares Bought by KG&L Capital Management LLC

KG&L Capital Management LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,641 shares of the company’s stock after acquiring an additional 2,264 shares during the period. KG&L Capital Management LLC’s holdings in Snowflake were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares in the last quarter. Joseph P. Lucia & Associates LLC raised its holdings in Snowflake by 2.6% during the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after purchasing an additional 75 shares in the last quarter. Modus Advisors LLC lifted its position in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares during the period. Iron Gate Global Advisors LLC boosted its stake in Snowflake by 0.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after purchasing an additional 105 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snowflake news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,049,994 in the last 90 days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

NYSE SNOW opened at $115.49 on Monday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market cap of $38.71 billion, a PE ratio of -37.74 and a beta of 0.83. The firm has a 50-day simple moving average of $114.70 and a 200 day simple moving average of $130.39.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) EPS. Research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Barclays reduced their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. TD Cowen reduced their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Needham & Company LLC cut their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.